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Even since the 80s, we’ve been scanning documents into digital systems and making sense of them. So, optical character recognition (OCR) isn’t exactly new or exciting technology. OCR is, simply, a way to convert images of text into machine-encoded text. Say, a PDF, a scanned image or a photograph of a document can be put through an optical character reader to receive information as text, which is far easier to manage, analyse or process.

OCR remains the most used way in which documents are processed across the globe. Both small business and multi-nationals alike process forms, invoices, purchase orders etc. …


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Robotic Process Automation (RPA) has been around long enough now that industry-specific flavours have become mature, scalable models. Unlike in the earlier years of RPA, when implementations could fail because of poor or limited compatibility between different systems, RPA technology solutions these days are capable not only of working seamlessly with every system that’s already in place but also of adapting to changes in environments caused by operational, legal, regulatory and other factors. In fact, it is expected that over 40% of the world’s biggest corporations will implement RPA solutions by 2021.

In complex industries that deal with as many processes as there are ‘moving parts’, such as retail, banking, insurance, healthcare and manufacturing, RPA is proving to be a major game-changer with its impact on key parameters. Automation drives up efficiency and productivity; it also results in lower operational expenditure can that offset the higher initial costs within as low as 2 years. In fact, with JiffyRPA, you might start seeing returns on investment as quickly as within the first 18 months of implementation. …


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Technology has been an integral part of healthcare delivery for over eighty years, but it is only in recent years that it has been used on the administrative side instead of for diagnostic or treatment purposes. The first wave of this change was driven when key stakeholders — providers, patients, insurers and pharmaceutical manufacturers alike — realized the value of electronic health records. We are now in the next generation of change, one driven by robotic process automation.

The concept of Robotic Process Automation itself has gone a rapid evolution in the past few years, growing from implementations that failed because of incompatibility or inability to becoming smart, self-learning systems that can handle multiple tasks across a multitude of systems. In a field where the slightest mistake can literally be a matter of life or death, RPA’s highly accurate, highly efficient, ne’er-failing bots might just be the cure the doctor ordered. …


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Financial firms, particularly in insurance, have long been subject to regulatory compliances, paperwork and contracts. Processing these documents has never called for creativity (indeed, it is frowned upon!), with the result that the employees engaged in these tasks are subjected to tedium and fatigue, and then are prone to mistakes arising out of these factors. In short, an environment ripe for robotic process automation.

A few years ago, when RPA was still in its infancy, a few organizations who attempted it got their hands burnt because of poor or limited capabilities, low interoperability and high expectations. That’s no longer the case now: today’s RPA solutions are fast, scalable, efficient, compatible and intelligent, hitting the golden combination of factors that makes them assets that see returns on investment in as little as under 2 years (JiffyRPA implementations typically see breakeven at 18 months, in fact!) For a sector sensitive to operational, legal and regulatory changes, this flexibility makes RPA a must-have going forward. …


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I’m sure you can easily imagine saying, “Alexa, play ” as you enjoy an afternoon break. What if you can say, “Alexa, email me my quarterly advertising budgets,” while you’re working with your creative team on the next campaign? And have Alexa send you the report in seconds, which may have taken you at least a few minutes to search and piece together? …


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Image Source https://option3.io

— Benjamin Franklin

Banks have been both bullish and conservative at the same time when it comes to technology, and understandably so. Anything that secures their business, transactions, and assets are worth exploring but not if the downside involves cost escalation, risks of failure or information breach/leaks. As a result, while Fintech has been on the ascent in the past decade or so, there is also a high bar that has been set for a solution to become worthy of large-scale adoption.

Robotic Process Automation (RPA) scaled this bar after a few hits and misses in the earlier days. As learning evolves among the vendors, as implementations scale up in scope and complexity, bots have become not only near-perfect at delivering on promises of scale, efficiency, and accuracy but also adept, in an almost human manner, at learning for themselves and then applying those lessons in unstructured contexts as well. You can no longer measure the scale of an RPA implementation based on the number of bots deployed simply because the paradigm has shifted. …


Advancing the Advanced — What will tomorrow’s RPA do for you?

Robotic Process Automation is to modern businesses what the assembly line was to production — a paradigm shift in the way productivity is achieved, the key differentiator between the trail-blazers and the trailing. It’s no wonder then that investments in RPA implementations have been rising steadily, and these investments have resulted in improvements to the concept of RPA itself.

What are these, and how will these improvements help you and your organization?

An Robotic Process Automation system is a stack of ‘bots’, standalone programs that can work both independently and together towards a predefined purpose. The earliest implementations of RPAs failed when these bots couldn’t talk to each other or when they couldn’t adapt to changes in the system they were connected to. …


Few will debate that telecom is an industry majorly disrupted in the past decade. Economies of scale of manufacturing have made mobile phones more accessible to the average Joe on the street, while competition between service providers has led to price wars that are won on numbers over margins.

Growth, but at a price

Telecom companies, for their part, have leveraged business process reengineering in every way possible — from integrating themselves across the entire value chain to outsourcing every single activity they can afford to. …


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Inspired by science fiction author Isaac Asimov’s law of robotics about doing no harm, the inventor of the first robotic arm, George C. Devol, applied his work to one of the more hazardous jobs in an automobile manufacturing plant. Thus began the life of robotic automation in saving humankind from hazardous labour.

Claiming that this is the beginning of RPA is being too literal. Robotics in the digital age, even in its early days, had nothing to do with humanoid robots or arms. However, it has always been about automating tedious, repetitive and high-volume tasks to free the human to do more cognitive functions. …


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RPA for Security

92% of companies in Europe aim to implement robotic process automation (RPA) by 2020, finds the Information Services Group (ISG). Yet, 42% of them attribute security as an important reason for their reluctance today.

Imagine you’re performing bank reconciliation and using RPA for SAP automation. For the bot to perform its task, it requires access to the secure credentials of the business to function.

Every few weeks, these passwords might need to be changed.

Certainly, there is more than one bot that needs the same credentials. …

About

Kris Subramanian

Co-Founder & CEO @JiffyRPA

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